The markets soared this morning after this news article was released regarding a coordinated action by major central world banks to provide liquidity to the global financial system as a preemptive strike against rising stresses in the banking system: http://www.reuters.com/article/2011/11/30/us-markets-global-idUSTRE7AK01K20111130
In contrast, there was no negative market reaction to today's monthly data release which showed a rise in the European unemployment rate to 10.3% (its highest level in 11 years), as shown in the graph below (provided courtesy of www.forexfactory.com):
The banks are happy...are the citizens?
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